Suryoday Bank RD Interest Rates 2023: Invest fixed sum of amount on monthly basis in Suryoday Bank Recurring Deposit and get attractive interest rates. Build up your savings through regular monthly deposits of a fixed sum over a period of time with Suryoday Bank RD. This is a great option for those who have fewer earnings as the monthly deposit amount is very less in Suryoday Bank Account.
Recurring Deposit allows customers with an opportunity to build up their wealth securely through regular monthly deposit of fixed sum over a period of time.
Content in this Article
Key Benefits of Suryoday Bank Recurring Deposit
| FEATURES | BENEFITS |
| Attractive Interest Rates |
|
Flexible Tenor Options
|
|
| Minimum Amount | As low as ₹ 100 |
| Deposit Multiples | As low as ₹ 100 |
| Ease of Booking | Open RD on click of a button using internet or mobile banking. |
Interest Rates for Recurring Deposits
Effective Date – June 01, 2023
| Period | Interest Rate | Senior Citizen Rate |
|---|---|---|
| 6 months | 5.00% | 5.50% |
| 9 months | 5.50% | 6.00% |
| 12 months | 6.85% | 7.35% |
| 15 months | 8.25% | 8.75% |
| 18 months | 8.25% | 8.75% |
| 21 months | 8.25% | 8.75% |
| 24 months | 8.25% | 8.75% |
| 27 months | 8.25% | 8.75% |
| 30 months | 8.25% | 8.75% |
| 33 months | 7.25% | 7.75% |
| 36 months | 7.25% | 7.75% |
| Above 3 Years to less than 5 Years | 6.75% | 7.25% |
| 5 Years | 9.10% | 9.60% |
| Above 5 Years to 10 Years | 7.25% | 7.75% |
- # – Only Senior Citizens / Retired Personnel (60 years and above) who are Resident Indians are eligible.
- The above rates are applicable to Recurring Deposits as well, maximum amount of monthly instalment of a Recurring Deposit is capped at Rs 14,99,900.
- Recurring Deposit accounts can be maintained for a minimum tenure of 6 months and in multiples of 3 months thereafter subject to a maximum of 10 years.
- Minimum instalment amount for an RD is Rs 100 (and multiples of Rs 100 thereof).
Terms and Conditions on Suryoday Bank RD Account:
- Suryoday SFB will offer recurring deposits account where customers can invest fixed sum of amount per month in his recurring deposit account maintained with the bank
- The interest will be earned as per the pre-determined rate depending on the amount and tenure
- The amount of monthly instalments can be deposited by giving Standing Instructions to the bank totransfer (withdraw) a fixed amount on a fixed date of the month from the saving bank of the customer as per his/her mandate and credited to RD account. Cash deposits will also be allowed in RD
- Recurring Deposit accounts can be maintained for a minimum tenure of 6 months and in multiples of 3 months thereafter subject to a maximum of 10 years
- Please read the Terms & Conditions for Recurring Deposits to know more
- Suryoday Bank reserves the right to close the recurring deposit in case the customer misses 5 consecutive recurring deposit instalments.
- The minimum tenor of Recurring Deposit should be 6 months.
- The minimum instalment amount should be ₹ 100.
- The instalment amount should be in multiples of ₹ 100.
- The rate applicable on premature withdrawal would be 1% less than the rate applicable from the lower of the two:
- Rate for original /contracted tenure for which the deposit has been booked
(as on the date of booking the deposit) - Rate for the actual tenure for which the deposit was in force with the Bank
(as on the date of booking the deposit) - (In case of premature withdrawal before 1 month, customer gets only the principal amount.)
- Rate for original /contracted tenure for which the deposit has been booked
List of Other Banks Offering RD
| State Bank of India | HDFC Bank | ICICI Bank | Axis Bank |
| Indian Bank | RBL Bank | AU Bank | IDFC Bank |
| Corporation Bank | Andhra Bank | PNB Bank | Canara Bank |
| Union Bank of India | Central Bank | Bank of India | Bank of Baroda |
| Jana Bank | Suryoday Bank | Equitas Bank | UCO Bank |
| Syndicate Bank | Allahabad Bank | Kotak Mahindra Bank |
How to Apply for Suryoday Bank RD Account
- Suryoday Bank Existing customers can open Recurring Deposit through his bank Mobile Banking Application and Suryoday Bank Internet Banking.
- Visit the nearest Suryoday Bank branch and open Recurring Deposit
- You can also contact Suryoday Bank and our Customer Care Executive will fix a service appointment with our Relationship Manager to help you with the application process.
Click Here to Apply Online for Suryoday Bank RD Account
Recurring Deposit: Special Features
- Nomination facility is available so you can nominate your family members or spouse as the receiver of the final amount
- Loan facility is available up to 90% of your Suryoday Bank RD amount. Some times Suryoday Bank also allows you to take an overdraft on the RD amount
- The deposit tenure ranges from 12 months to 120 months
- The minimum amount can be deposited in multiples of Rs. 100
- This service is available in every bank branch. You can visit your nearest branch to start an RD account
- TDS deductions are subject to the existing income tax rules as at the time of opening the RD account
- A penalty in case of delay in payment of an installment of RD is Rs 1.50 for every Rs. 100, per month
Documents Required to Open Suryoday Bank RD Account
Proof of Identity
- Aadhaar Card
- Passport
- PAN card
- Voter ID card
- Driving license
- Government ID card
- Photo ration card
- Senior citizen ID card
Address proof
- Aadhaar Card
- Passport
- Telephone bill
- Electricity bill
- Bank Statement with Cheque
- Certificate/ ID card issued by Post office